IKEA’s Post

Sustainable growth - is about today. Paradox: sustainable growth is about development in the past and for the future. However there is only today that exists and every day you decide how to spend it. Of course we have strategies and long term goals, but today we are living our mission and values. Are you moving forward several (sometimes contradictory) dimensions? If so, trust, you are on the way.

Being the best is just one small step on our journey to being better. #IKEA closed the books for the Financial Year 2023 which ended the last day of August, this year. We already knew that we keep on growing. Nearly 6 % in a year which I dare to name even more challenging than the pandemic years. It was a year that we were forced to semnificatively increase the prices for a number of products due to unprecedental economic environment. We have struggled to bring back supply but in the same time say good-bye to some markets. But yet we stayed together and delivered on all our promises: people, planet and home furnishing movement. We came closer to our customers, we reduced our climate impact and together we found solutions for a better everyday life for the many. #Tremendous challenges are set already in front of us for the new financial year. The world is in turmoil and that has never been good for anybody. In the same time our dedication to the home furnishing movement is growing even stronger. We invest massively in reducing prices while maintaining our commitments on climate footprint. We will come even closer to the many people because the unique IKEA experience consists in coming to our blue and yellow stores and meet our superheroes - the co-workers. The #future of the world relies in responsible collection and use of data. We see data the same way we see retail: as providing solutions that lead to a better life at home. That's why we are already merging hands-on business and data world based on what else than our unique values. We'll grow together. We'll never stop getting better. Glorious future ! 💙💛 🌍 💻

IKEA Australia is currently making significant price cuts of up to 20% on over 700 popular items. How are they doing this and making more money and keeping customers happy at the same time?  Here's how: 1. Despite rising operational costs, IKEA is committed to absorbing these expenses rather than passing them on to customers whenever possible. 2. IKEA has highlighted its focus on putting affordability and customer satisfaction at the forefront of its business strategy. (https://lnkd.in/g4m5KtFp) 3. IKEA extends its affordability initiatives through discounts for loyalty program members and introduces Happy Days Deals. 4. IKEA are likely keeping highly visible products competitively priced while optimising the rest of their range. IKEA's price drop strategy covers a wide array of products including furniture, lighting, textiles, and storage solutions. While affordability is a key aspect of this pricing strategy, there are lots of moving parts behind it which in turn ensure it is both profitable for them and good value for their customers. #pricingnews #taylorwellspricing #ikeapricingstrategy Sources: https://lnkd.in/gCKV7Hfh https://lnkd.in/gW-yFBEe https://lnkd.in/grD7UnGQ https://lnkd.in/gc9kA3PZ

IKEA did it again !! When packing for university, we often face challenges such as deciding what to bring, managing limited space, budgeting for the essentials, and adapting to a whole new environment. We may enjoy our time to decide on these things but wouldn't it be great to get all the necessary items in just one whole kit ! But IKEA went beyond from just providing the list. They put everything in just one large box (which is also one of the items in the list 😁) thus reducing their packaging cost. You may notice that the total individual price of the items are $123 but the kit is only $99. But the value of the kit is not the discount factor here. The VALUE comes from helping you to anticipate your needs, which is worth far more than the 25% discount IKEA is providing. “Everything is worth what its purchaser will pay for it.” —Publilius Syrus, 1st century BC #marketing #retail #ikea #valuecreation

IKEA recently announced price reductions worldwide! What were their reasons? ⏬ Reducing costs of raw materials. Very interesting move by Ikea! They ensured to talk about how they are passing the benefit to the consumer. Their strategy is clear, they want to gain market share and seems like they are leveraging the lowering of costs to lower their prices. Most companies including IKEA rode the inflation wave by increasing prices, Ikea is now using the cost reduction to their advantage. I am sure large vendors like Ikea have language in their contracts with suppliers on getting cost reductions as the commodities and markets start to drop. Is this an indication of price pressure in consumer industry? PS: Clearly the Red Sea crisis hasn't affected their costs or they are willing to take the hit to gain market share. PPS: Ikea was also focusing on digital strategy and getting more sales online and as you can see on the website, they made it very easy for consumers to get to "Price Drop" items. Let me your thoughts! #pricing #strategy #marketshare --------------------------------------------------------------- 🚨 Sign for early access to PriceOps 👉 https://lnkd.in/g9eSZkYe 📰 Subscribe to my newsletter here 👉 https://lnkd.in/gNR6m9NF

Good news must be shared 🤗 I am happy to support today's announcement about price decrease for IKEA Czech Republic. IKEA's long-term strategy is to offer products at prices that as many people as possible can afford. It is even more relevant now, when many households are feeling the effects of the economic situation and rising living costs. Across our entire business, we've been looking for ways to lower prices. Above all, thanks to the stabilization of supply chains after the pandemic, the favorable development of the exchange rate of the Czech crown and the reduction of operating costs, we can lower the prices. Since September, the beginning of our new financial year, we are lowering more than 3,300 products in the Czech Republic by an average of 8.4 percent. Definitely you will find also your favorite one, because new lower prices touch all range categories within huge number of accessories, storage across the home and also appliances. Among them you will recognize HEMNES, MALM, KALLAX or PLATSA series, KALLAX shelf unit or the INGOLF chair, ISTAD etc. Happy about the future 👐

So simple but so clever 🎄

When you can be funny and a short message is enough in advertising. Do it. It is enough. Made me smile. Made me look. Might make me remember. What about you? Like if it worked for you and share other ads you remember #communicationskills #businesstips101 #marketingtricks #brilliantadvertising #whatmakesyoutick #businesstips #ikea #funnypost #humour

Have you ever experienced missing screws for an IKEA item? Maybe due to a hectic move, 2nd hand purchase or that they were missing from the newly bought item? 😖 Did you know that you can order these spare parts online and that they are delivered to your home in 3-5 days? 💡 Now why am I sharing this? 🤔 Four years ago I submitted an idea to IKEA’s 1000 actions campaign on how we could become more cost-conscious. My idea was to make spare parts ordering available for customers online. It would save the stores queues, save customers time and prevent us from having to open up new packages simply for the missing part. Not lang after my submission I heard that my idea was selected as one of the 15 ideas to be implemented globally. As a reward I won a trip to Almhult Sweden, the heart of IKEA 🎉🇸🇪. Last week it became reality (some covid related delay). It was great being there with the other winners and dive into IKEA history, product development, IKEA museum, visiting the store while getting good nights of sleep at the IKEA hotel. For IKEA this trip was a small effort. To me the campaign and trip are a great example of how to empower coworkers by asking them to think along and engage them by listening, executing & keeping promises ♥️ Need a spare part? 🔩 https://lnkd.in/gtFYGzeG Thank Evelyn Wijdoogen-Higler & Natalia Szyszka for making this idea become reality and the fun we had! 🙌🏻

The more I see Ikea's way of doing business, the more I identify the sweet spot of customer lifetime value and customer acquisition cost. Let's not discuss the shopping experience of Ikea as they are the best in it. What I like more is the availability of similar products across the globe along with localized offerings. In emerging markets, where the cost is always a factor to consider, Ikea has proved that the quality of the overall shopping experience can turn the table and triumph over the usual "Make To Order" experience. Let's share such an experience. Today I spotted one exceptional poster at the billing counter. Ikea offers 365 days of product replacement in case the customer wants to return the product. I mean, a complete year as a replacement period. It's just amazing. Reminds me of that famous quote of Howard Schultz of Starbucks, " We are not in the coffee business serving people, we are in the people business serving coffee." #customerfirst #ikea #shoppingexperience